Santa Claus comes around just once a year. In the meantime, there are Credit Cards.

The 5 Best Credit Cards for Poor Credit

Having a bad credit score can be a strenuous task to correct. However, there are methods that can be used to replenish your score.  Secured credit cards are one of the easiest cards to get and are also ideal to enhance your credit score. Some of the best credit cards for bad credit in the country are mentioned below. 

SBI Advantage Plus

This credit card from SBI is accepted globally and is offered against fixed deposits. Up to 85% of your total fixed deposit amount can your credit limit. 
  • Key features of SBI advantage plus 

    • Enjoy cash withdrawal from several ATMs across the globe.  
    • Apply for add on cards for spouse, siblings, children or parents. 
    • Convert your credit card spends into EMIs with Flexipay. 
  • Fees and charges 

    • Annual fee – Rs.500 
    • Renewal fee – Rs.500 p.a. 
    • Add on charges – Nil 
    • Interest charges – 2.25% per month or 27% p.a. 
    • Late payment charges – Up to Rs.750 depending on the spend amount 

SBI Unnati

One of the key features of this card is the absence of an annual fee. This card is a secured card that can be obtained against a fixed deposit of above Rs.2.5 lakh. 
  • Key features of SBI Unnati 

    • Contactless transactions can be made using this card. 
    • Enjoy cash withdrawal from several ATMs across the globe.  
    • Apply for add on cards for spouse, siblings, children or parents. 
    • Convert your credit card spends into EMIs with Flexipay. 
    • No annual fee for the first four years. 
  • Fees and charges 

    • Annual fee – Nil for the first for years 
    • Renewal fee – Rs.499 from the 5th year onwards 
    • Add on fee – Nil 
    • Interest charges – 2.50% per month or 30% p.a. 
    • Minimum amount due – 5% of the total outstanding amount 

Axis bank Insta Easy Credit Card

This card can be availed on your salary or fixed deposits. With minimal documentation, this card is apt for people trying to enhance their credit score. 
  • Key features of Axis bank Insta Easy Credit Card 

    • Get a credit limit up to 80% of your FD. 
    • 1% fuel surcharge waived on all fuel transactions. 
    • Cash withdrawal of up to 100% of credit limit. 
    • No joining fee or annual fee. 
  • Fees and charges 

    • Joining fee – Nil 
    • Annual fee – Nil 
    • Add on charges – Nil 
    • Interest rate 2.50% per month or 34.49% p.a. 
    • Late payment fee – Up to Rs.700 

Kotak Mahindra Aqua Gold Card

This card is one of the best cards in the country for easily accessible and affordable cash. The Aqua card can be availed on FDs, and up to 80% of the fixed deposit amount can be obtained as credit limit. Furthermore, it is also one of the cards that can be used to revive low credit scores. 
  • Key features of Kotak Mahindra Aqua Gold Card 

    • Interest free cash for up to 48 days throughout the year. 
    • Fuel surcharge waiver on fuel transactions above Rs.500 up to Rs.3,500. 
    • Railway surcharge waiver on transactions in IRCTC website for a maximum of Rs.500. 
  • Fees and charges 

    • Joining fee – Nil 
    • Annual fee – Nil 
    • Add on charges – Nil 
    • Interest rate 2.99% per month or 35.88% p.a. 
    • Late payment fee – Up to Rs.700 
    • Over limit charge – Rs.500 

HDFC Money Back Credit Card

The money back card offered by HDFC can be availed on your salary. The ease of obtaining this card makes it a good option for people trying to improve their credit scores. Some of the details of the card are mentioned below. 
  • Key features of the HDFC Money Back Card 

    • Earn 2 reward points for every Rs.150 spent. 
    • Convert spend to EMIs using SmartEMI. 
    • No lost card liability after reporting loss of the card.
  • Fees and charges 

    • Joining fee – Rs.500 
    • Annual fee – Rs.500 
    • Add on charges – Nil 
    • Minimum amount due – 5% of total outstanding 
    • Late payment fee – Up to Rs.750 
    • Over limit charge – Rs.500 minimum 

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